July 29, 2009 |
Pasadena label maker Avery Dennison Corp. agreed to pay a $200,000 fine over charges that employees bribed Chinese government officials with kickbacks, sightseeing trips and gifts, the Securities and Exchange Commission said. As part of the settlement, the SEC said Tuesday, Avery neither admitted nor denied any wrongdoing.
June 21, 2009
Re: "Chrysler presents a big test for Fiat," June 11: In December, Fiat agreed to pay $17.8 million to settle U.S. claims that some of its subsidiaries gave illegal kickbacks to the former Iraqi government under the United Nations oil-for-food program. Between that and the terrible reputation for quality that Fiat had when it left the U.S. in the 1980s, I don't believe that appointing Fiat Chief Executive Sergio Marchionne head of Chrysler is in shareholders' best interest. Vicky Nissen Marina del Rey
CALIFORNIA | LOCAL
June 18, 2009 |
The former co-owner and board chairman of City of Angels Medical Center pleaded guilty Tuesday in U.S. District Court to paying illegal kickbacks in a scheme to defraud Medicare and Medi-Cal. Robert Bourseau, 74, is the fourth person to plead guilty in a widespread plan to exploit those living on the streets for their medical benefits. The charges carry a maximum penalty of 10 years in federal prison. Bourseau has agreed to pay more than $4.1 million to Medicare and Medi-Cal. -- Richard Winton
May 9, 2009 |
The country's largest government pension fund Friday gave preliminary approval to a first-ever policy requiring full and public disclosure of multimillion-dollar payments made to intermediaries in investment deals. Outside investment fund managers and other financial firms have long paid intermediaries -- also known as placement agents -- major sums to help firms obtain lucrative deals with the asset-rich pensions. But now these connections are under scrutiny.
CALIFORNIA | LOCAL
May 7, 2009 |
In 2005, California real estate mogul Terry Fancher wanted to entice public pension systems to place hundreds of millions of dollars in investment funds he managed. Bypassing seasoned Wall Street advisors such as Morgan Stanley or Credit Suisse First Boston, he turned to Darius Anderson, a young and ambitious Sacramento lobbyist known in the Capitol for his political connections and fundraising prowess.
May 2, 2009 |
California and three dozen other states formed a task force Friday to investigate whether the abuses alleged at a New York state retirement fund are taking place at public pension agencies across the country. The announcement marks the latest expansion of a pay-to-play probe that has increasingly revealed California connections. New York Atty. Gen.
May 1, 2009 |
A multimillion-dollar pension-kickback scandal widened further Thursday as a consulting firm for a Los Angeles city retirement fund was sued by federal regulators and one of its partners was arrested on criminal charges. Aldus Equity was charged by the Securities and Exchange Commission with civil securities fraud for allegedly making improper payments to win business managing money for a New York state pension fund.
April 25, 2009 |
An investigation of alleged pension-fund improprieties that already has entangled New York state officials, a key Obama advisor and a well-connected political consultant has now reached a Los Angeles agency that invests more than $10 billion for retired city firefighters and police officers.
April 24, 2009 |
A Los Angeles investment firm run by a well-known Southern California political operative has become ensnared in a widening probe into the fees paid to advisors who help place investments in public pension funds. Wetherly Capital Group has come under scrutiny for a $313,750 payment it made to a firm run by a New York political advisor who was arrested last month on charges of running a kickback scheme involving New York state's pension fund.
March 27, 2009 |
The state Supreme Court overturned hundreds of juvenile convictions issued by a corrupt judge who took millions of dollars in kickbacks from youth detention centers. The court ruled that former Luzerne County President Judge Mark Ciavarella violated the constitutional rights of youthful offenders who appeared in his courtroom without lawyers between 2003 and 2008. Federal prosecutors charged Ciavarella and another Luzerne County judge, Michael Conahan, with taking $2.6 million in payoffs to put juvenile offenders in privately owned lockups.